Crypto

Texas pauses approvals for new grid-connected data centres; existing bitcoin miners relieved

Texas has paused the approval process for new data centres seeking to connect to the power grid, but the move is expected to have limited impact on existing electricity contracts held by bitcoin miners operating in the state. Bernstein said many major miners already have contracts based on approved power capacity. The pause follows an order by Governor Greg Abbott for audits of all such applications. Future data centre pipelines may face greater disruption and rising local opposition.

Crypto

Strategy builds cash instead of Bitcoin, sells MSTR and buys back STRC

Strategy raised $544.5 million by selling MSTR common shares last week and bought back $25 million of STRC preferred stock, while increasing its dollar reserves to $3.75 billion. It made no additional Bitcoin purchases or sales during the period, keeping holdings at 843,775 BTC. The company said it repurchased 288,930 STRC preferred shares for $25 million. Market moves were mixed as attention focused on liquidity management.